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Jan 22, 2013
01/13
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they are teeing off this new debt ceiling bill. john boehner will be housing a meeting with key republican leaders at 5:00 p.m. eastern time. >> reporter: >> that's coming up and john harwood is here with a preview before that meeting. >> reporter: interesting to see how john boehner describes it, but there are some signs that the whole debt ceiling threat as a source of instability for markets and the economy may be melting away before our eyes. house republicans are going to take up a bill tomorrow afternoon to extend the debt ceiling, not just to april 15, but to may 18. they are going to do it with a mechanism that would allow them in effect to suspend the debt ceiling, not even to raise it making it easier for conservatives to vote for it and senate democrats say they plan to take up that proposal and expect to pass it by an overwhelming margin sometime within the next week or so. now, jay carney at the white house today for his part said we wouldn't a longer term extension than that but the president is not going to block thi
they are teeing off this new debt ceiling bill. john boehner will be housing a meeting with key republican leaders at 5:00 p.m. eastern time. >> reporter: >> that's coming up and john harwood is here with a preview before that meeting. >> reporter: interesting to see how john boehner describes it, but there are some signs that the whole debt ceiling threat as a source of instability for markets and the economy may be melting away before our eyes. house republicans are going to...
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Jan 24, 2013
01/13
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ceiling. >> thanks so much, bill. we are talking economy and politics with representative eric cantor right now, and representative, great to have you on the program. >> great to be here with you. >> thank you so much for joining us. >> let's get right to t.yesterday or this week rather the house passed a debt limit extension until mid-may. what does that buy us? >> well, what is buys us is a time for this debate about borrowing and spending to really develop into what i hope will be a robust discussion that will yield some results. we know that for almost four years the united states senate has not passed a budget, and that's part of the problem that's been contributing to the out-of-control spending in washington, and what we've said is we will extend the debt ceiling for three months to allow time for the united states senate to write a budget so we can then begin the discussions on how we're going to repay this money that we're going to borrow as well as begin to manage down the debt long term. >> what's the reali
ceiling. >> thanks so much, bill. we are talking economy and politics with representative eric cantor right now, and representative, great to have you on the program. >> great to be here with you. >> thank you so much for joining us. >> let's get right to t.yesterday or this week rather the house passed a debt limit extension until mid-may. what does that buy us? >> well, what is buys us is a time for this debate about borrowing and spending to really develop into...
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Jan 24, 2013
01/13
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not going to keep raising the debt ceiling at indicating that there will be steep cuts said. what is the chance of that? >> well, i hope the is right, but i fear he is wrong. i think that the current mood of the country is more sympathetic to the president and the democrats' perspective, which is that we don't really have a serious spending problem. we have a minor spending problem we can do with a little bit. we can raise taxes on high-income households a little bit more and we don't have to make fundamental cuts in entitlements. i think that's wrong. i think we have to make substantial cuts in entitlements. we should make substantial cuts in many other components of expenditure as well, defense and nondefense in that trying to address our long term fiscal situation with higher taxes is is going to destroy the economy. gerri: democrats are beating the drum on this already. anyone you listen to from that side of the house is really talking about higher taxes. republicans and conservatives in general like to talk about the power of economic growth. could robust growth that a l
not going to keep raising the debt ceiling at indicating that there will be steep cuts said. what is the chance of that? >> well, i hope the is right, but i fear he is wrong. i think that the current mood of the country is more sympathetic to the president and the democrats' perspective, which is that we don't really have a serious spending problem. we have a minor spending problem we can do with a little bit. we can raise taxes on high-income households a little bit more and we don't...
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Jan 22, 2013
01/13
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it is expected to pass tomorrow, an effort to push off this debt ceiling to date. something that would have really expired in a matter of weeks for another couple of months. i think we will be doing this in may, so your kid is graduating from school into a nightmare. same time, same place. same bat channel. to the flight amid the tax threat. you hear about this -- those in power don't like being taxed. so former french president out of power, nicholas sarcozey and his wife are considering fleeing frarch. phil mickelson saying the same thing. the democratic leaders here better take note, if they have the money, they will run. there are reasons for both of these guys to bring back their remarks, as you know. but they do follow a trend of folk who is have means who are saying the government -- and governments are going too far. do they have a point? >> well, i think they definitely a point, neil. economics is a very dynamic social science. there is a latin phrase that means, all things being the same. the democratic policy approach is everything's the same. we can inc
it is expected to pass tomorrow, an effort to push off this debt ceiling to date. something that would have really expired in a matter of weeks for another couple of months. i think we will be doing this in may, so your kid is graduating from school into a nightmare. same time, same place. same bat channel. to the flight amid the tax threat. you hear about this -- those in power don't like being taxed. so former french president out of power, nicholas sarcozey and his wife are considering...
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Jan 29, 2013
01/13
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that pushes the debt ceiling to may 18th. the back end of number of cliffs upcoming in the calendar. look here at the government deadlines the congress and white house are facing right now. first, march 1st are the automatic spending cuts known as the sequester. they begin to hit the federal budget. that is something that takes place over the course of the year and is gradual. march 27th, that is when government spending runs out. or a large chunk of it. if there is no agreement on that, that could shut down the federal government. you're looking at debt ceiling all the way on may 18th. congressional aides saying treasury is telling them pause of extraordinary measures they can use, this pushes the debt ceiling day back to sometime this summer perhaps if this is a bill that clears congress and the senate is going to consider it the next couple of days and likely it does pass of the because the debt ceiling is pushed off and the next real fast deadline is march 27th, that government spending deadline, analysts say that increas
that pushes the debt ceiling to may 18th. the back end of number of cliffs upcoming in the calendar. look here at the government deadlines the congress and white house are facing right now. first, march 1st are the automatic spending cuts known as the sequester. they begin to hit the federal budget. that is something that takes place over the course of the year and is gradual. march 27th, that is when government spending runs out. or a large chunk of it. if there is no agreement on that, that...
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Jan 22, 2013
01/13
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melissa: tomorrow is the big day, the house vote on extending the debt ceiling. there is a catch. that means lawmakers won't get paid unless they actually pass a budget. i love it! our panel joins us with their best strategy and the outcome for both the market and the economy. don't go anywhere. more "money" coming up. ♪ twins. i didn't see them coming. i have obligations. cute obligations, but obligations. i need to rethink the core of my portfolio. what i really need is sleep. introducing the ishares re, building blocks for the heart of your portfolio. find out why 9 out of 10 large professional investors choose ishares for their etfs. ishares by blackrock. call 1-800-ishares for a prospectus which includes investment objectives, risks, charges and expenses. read and consider it carefully before investing. risk includes possible loss of principal. lori: all right. back to business in washington now republicans hold a big vote to whether or not to extend the debt limit until may. if congress doesn't pass a budget by april 15th they no longer get paid! i have no problem with tha
melissa: tomorrow is the big day, the house vote on extending the debt ceiling. there is a catch. that means lawmakers won't get paid unless they actually pass a budget. i love it! our panel joins us with their best strategy and the outcome for both the market and the economy. don't go anywhere. more "money" coming up. ♪ twins. i didn't see them coming. i have obligations. cute obligations, but obligations. i need to rethink the core of my portfolio. what i really need is sleep....
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Jan 23, 2013
01/13
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they will not stand in the way of this three-month increase of the debt ceiling. they want a much longer increase. >> ideally we would extend, raise the debt ceiling for a long period of time so that this is not a question, the uncertainty surrounding as of late 20 political strategy house republicans have taken will be removed. >> the senate will take this bill up and pass the bill, so feebly the white house and the senate, it is a done deal. now, and the senate and the house putting a budget together. john boehner said his budget republicans will release shortly will balance the budget in 10 years. david: rich edson, one of the best reporters i know in washington. we are awaiting the numbers on apple. the stock is about 30% off of the all-time high in fall. could we see the earnings decline for the first time in almost 10 years? keep it right here, a very important our coming straight up. sandra: seaway president of iceland is against big bank bailouts. ♪ (train horn) vo: wherever our trains go, the economy comes to life. norfolk southern. one line, infinite p
they will not stand in the way of this three-month increase of the debt ceiling. they want a much longer increase. >> ideally we would extend, raise the debt ceiling for a long period of time so that this is not a question, the uncertainty surrounding as of late 20 political strategy house republicans have taken will be removed. >> the senate will take this bill up and pass the bill, so feebly the white house and the senate, it is a done deal. now, and the senate and the house...
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Jan 23, 2013
01/13
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but you made this deal yeah, we are going to extend the debt ceiling. now, it gets attached to a balanced budget. >> two points, in regard to congressman welch. when you have liberal s ip the house and senate, that is their plan to spend more money. i know you are talking about our budget larry, but we have to step back. there is going to be no budget that takes place unless the senate passes a budget. but to get congress both chambers to work together, we need the senate to pass the budget. so we said no budget senate, no pay. that is a way to get the senate to engage. >> i'm not challenging your logic, but i'm challenging your process. the series of dates that is so important one is april 15th. i preseume that is paul ryan's budget. i don't see how you can vote tomorrow on a debt extepgs nsio increase and attach a balanced budget before you know what the balanced budget is. i see that as a problem. i want peter to tackle that. >> we are passing the no budget no pay act. it is going to give both chambers, the senate and the house to pass the budgets. w
but you made this deal yeah, we are going to extend the debt ceiling. now, it gets attached to a balanced budget. >> two points, in regard to congressman welch. when you have liberal s ip the house and senate, that is their plan to spend more money. i know you are talking about our budget larry, but we have to step back. there is going to be no budget that takes place unless the senate passes a budget. but to get congress both chambers to work together, we need the senate to pass the...
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Jan 24, 2013
01/13
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the debt ceiling is going up, we know that. the fiscal cliff was afraided. -- avoided. one presidential advisor says it is time for washington to do the real work to boost the economy. ed lazear is here next. tracy: nasdaq ceo bob greifeld weighs in on the new york stock exchange plans to tie up with nasdaq's former partner ice. liz claman talks with him in davos. that is coming up. first as we do every day at this time of day, let's look how oil is trading, up, just under 1%. $96 a barrel even. we'll be right back what's next? he's going to apply testosterone to his underarm. axiron, the only underarm treatment for low t, can restore testosterone levels back to normal in most men. axiron is not for use in women or anyone younger than 18. axiron can transfer to others through direct contact. women, especially those who are or who may become pregnant, and children should avoid contact where axiron is applied as unexpected signs of puberty in children or changes in body hair or increased acne in women may occur. report these signs and symptoms to your doctor if they occur
the debt ceiling is going up, we know that. the fiscal cliff was afraided. -- avoided. one presidential advisor says it is time for washington to do the real work to boost the economy. ed lazear is here next. tracy: nasdaq ceo bob greifeld weighs in on the new york stock exchange plans to tie up with nasdaq's former partner ice. liz claman talks with him in davos. that is coming up. first as we do every day at this time of day, let's look how oil is trading, up, just under 1%. $96 a barrel...
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Jan 23, 2013
01/13
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republicans came to the senses, okay, not touching the debt ceiling, let it float. in return, you see the democrats in the senate drawing up a budget. i think obama's -- his olive branch is, okay, i'll take this one extension to bring stability to the situation, but it's not happening again because we have to get the job doab. it's progress. it's better than the last few months. lou: some combative about it and characterize the president as being so contentious. it's the first intelligent step taken by the republicans and gives, you know, i i think hope to the nation, the first intelligent step taken by the president. they actually are moving towards one another. it looked to me like something we ought to be kind of saying hallelujah about other than analyzing, if i may, in such, well, i don't know, unsettling parts of the terms. >> it's progress. >> the heavy weight boxes match, they touch the gloves at the start of the fight. please, don't misinterpret that's a good sign. it's a show to the nation. lou: see, i'm surrounded by cynicism. everywhere i turn around her
republicans came to the senses, okay, not touching the debt ceiling, let it float. in return, you see the democrats in the senate drawing up a budget. i think obama's -- his olive branch is, okay, i'll take this one extension to bring stability to the situation, but it's not happening again because we have to get the job doab. it's progress. it's better than the last few months. lou: some combative about it and characterize the president as being so contentious. it's the first intelligent step...
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Jan 24, 2013
01/13
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i think the debt ceiling punt was the latest example of this. the president says, if we don't do this the market is going to implode and congress puts its tail between it legs. i haven't heard anything from s&p or moodies who say we want the debt ceiling to go higher. everybody watching this show who has cut back 0, government has to learn how to do the same thing. it's cowardly in washington to continue to hide behind the notion that we're going to collapse overnight as a nation if we don't keep spending ourselves to death. >> i agree. congressmen have basically sent a message that today is not the day we're going to stop spending our children's and grandchildren's money, and charles is exactly right. the reason why our credit got downgraded is because of our out of control spending and out of control debt. the fiscal cliff deal even we just witnessed, it's such -- added four trillion dollars to our deficit over the next ten years. so, congress is not serious about reigning in spending and that's exactly when the we need to too. >> but they're
i think the debt ceiling punt was the latest example of this. the president says, if we don't do this the market is going to implode and congress puts its tail between it legs. i haven't heard anything from s&p or moodies who say we want the debt ceiling to go higher. everybody watching this show who has cut back 0, government has to learn how to do the same thing. it's cowardly in washington to continue to hide behind the notion that we're going to collapse overnight as a nation if we...
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Jan 23, 2013
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. >> are you expecting a fight around the debt ceiling? do you think we'll have a disruption around this inability to compromise? >> i know nothing more than you other than what i read in the paper today and it seems like they are already starting to. could mice by pushing it out and asking for a budget which i think all seems rational and compromise by the way so i applaud them. >> what does your gut tell you about all the money moving into stocks recently? had a fantastic early 2013. do you think this is sustainable? >> the economy grows it's sustainable, and i still think you can buy american companies at pretty good prices. these are some of the world class companies, you know, not just american companies, european and japanese and chinese companies, but you are still buying at fairly good prices and the alternatives aren't that good, yeah, i'm comfortable owning stocks right now. >> are you saying that kind of comfort on the part of investors, the private bank, wealth management? what are you seeing in terms of the sentiment? >> i thi
. >> are you expecting a fight around the debt ceiling? do you think we'll have a disruption around this inability to compromise? >> i know nothing more than you other than what i read in the paper today and it seems like they are already starting to. could mice by pushing it out and asking for a budget which i think all seems rational and compromise by the way so i applaud them. >> what does your gut tell you about all the money moving into stocks recently? had a fantastic...
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Jan 22, 2013
01/13
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let's turn to the debt ceiling -- >> oh, we have a debt problem? lou: republicans make a a move to ends the nonsense. i hope you tell me tonight there's no discussion by the republicans whatsoever of shutting down the government, that this is going to stay positive and move forward. >> all i want is spending under control. that's what we campaigned on because we are bankrupting this nation. we cannot continue on this path. lou: congressman, we talked for years. >> sure. lou: i have heard that speech to the point that it makes me think you don't realize while you're in the majority, conservative republicans -- >> thank you. lou: that you don't realize fully that you're in a majority of a house that is only one-third of government. >> oh, listen, i get it, but nothing that raises revenue, nothing that provides money to any part of our government gets there unless the majority in the house pass it. lou: right. >> lou, that's leverage to bring spending under control. we've just finished two years where every fight we came up to, we were told, you know
let's turn to the debt ceiling -- >> oh, we have a debt problem? lou: republicans make a a move to ends the nonsense. i hope you tell me tonight there's no discussion by the republicans whatsoever of shutting down the government, that this is going to stay positive and move forward. >> all i want is spending under control. that's what we campaigned on because we are bankrupting this nation. we cannot continue on this path. lou: congressman, we talked for years. >> sure. lou: i...
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Jan 23, 2013
01/13
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there's a new debt ceiling plan from speaker john boehner and the house republicans that could force senate democrats to finally show their hand and pass a budget. plus it's only day four of president obama's second term, but joe biden is already commenting on possibly running for the top job himself in 2016. we'll show you what he said in a minute. first the new developments in the debate over guns in america. the national rifle association last night delivered a sharp response to president obama's inaugural address. speaking in reno, nevada, way waywayn wayne lapierre lashed out at one word from president obama. >> we cannot mistake absolutism, or treat name calling as reasoned debate. >> obama wants to turn the idea of absolutism into a dirty word, just another word for extremism. he wants you, all of you, and americans throughout all of this country, to accept the idea of principles as he sees fit. it's a way of redefining words so that commonsense is turned upside down and that nobody knows the difference. >> lapierre vowed not to give ground on gun control including efforts to
there's a new debt ceiling plan from speaker john boehner and the house republicans that could force senate democrats to finally show their hand and pass a budget. plus it's only day four of president obama's second term, but joe biden is already commenting on possibly running for the top job himself in 2016. we'll show you what he said in a minute. first the new developments in the debate over guns in america. the national rifle association last night delivered a sharp response to president...
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Jan 27, 2013
01/13
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a lot of debates over the debt ceiling. the republicans, you heard bobby jindal saying we have to stop being the stupid party. i think they are trying to figure out how do we avoid talking about the 47%. republicans are looking to change their tone for elections in 2014 and 2016. in terms of the politics on the fiscal stuff and the politics, the fight is the same. republicans don't want to raid taxes. the president wants to cut spending less severely. same fight we have seen. >> you see it the same way, same old, same old. >> it is a fight that will don't happen. they are starting to position themselves and republicans are looking to 2016 to say we are going to change what has happened and jindal signalled that in his speech earlier this week. >> perry, another topic, gun violence, no doubt we have been since newtown. there are going to be hearings on capitol hill this week. patrick leahy, he has five witnesses. the list has come out who he is going to have talking about gun violence and someone that a lot of people are fam
a lot of debates over the debt ceiling. the republicans, you heard bobby jindal saying we have to stop being the stupid party. i think they are trying to figure out how do we avoid talking about the 47%. republicans are looking to change their tone for elections in 2014 and 2016. in terms of the politics on the fiscal stuff and the politics, the fight is the same. republicans don't want to raid taxes. the president wants to cut spending less severely. same fight we have seen. >> you see...
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Jan 29, 2013
01/13
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the debt ceiling debate has been delayed for three months no. reason why the market can't keep running at this point just because there's no obvious catalyst to run into, but at some point, whether it's the revenue growth or something out of washington, you know, i think we'll -- we're due for a pause if not outright correction. >> fundamentals matter. >> sooner or later they do. >> please, go ahead. >> just going to mention two cautionary notes here. even though i'm pretty constructive on the economy i'll give you a good reason to worry about april sis the sequestering right? i think markets have gotten very comfortable with the washington dysfunction going on because they keep going up at the deadline and then fix the problem without damage to the economy and my sense is sequester happening, $100 billion out of the economy, is actually on the high side and i don't think that's built into the market and the other thing, the last time the market was at these levels, the size of the economy was only a little bit smaller than it was now, profits a
the debt ceiling debate has been delayed for three months no. reason why the market can't keep running at this point just because there's no obvious catalyst to run into, but at some point, whether it's the revenue growth or something out of washington, you know, i think we'll -- we're due for a pause if not outright correction. >> fundamentals matter. >> sooner or later they do. >> please, go ahead. >> just going to mention two cautionary notes here. even though i'm...
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Jan 28, 2013
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this week the republican party put forward a plan on the debt ceiling in debt and appears to have won the support of both the president and senate majority leader. the republican change in direction and tone was not matched by a change in the republican party's lead. the rnc reelected the chairman after losing both the white house and ten seats in congress to democrats in that 2012 election. his job as head of the national party even as lenient -- louisiana's popular governor and from a republican both cried out for the party's revitalization, new ideas, and the voices. obama administration stalwart treasury secretary gagger and secretary of state clinton bidding farewell to the administration. clinton finally this week testifying on benghazi, trying to explain away one of the administration's biggest failures. another week in which president obama has dispatched vice-president biden to campaign against the second amendment. the president's inaugural this week. next week he launches his campaign for comprehensive immigration reform. next week senator kerry to be confirmed as the next
this week the republican party put forward a plan on the debt ceiling in debt and appears to have won the support of both the president and senate majority leader. the republican change in direction and tone was not matched by a change in the republican party's lead. the rnc reelected the chairman after losing both the white house and ten seats in congress to democrats in that 2012 election. his job as head of the national party even as lenient -- louisiana's popular governor and from a...
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Jan 22, 2013
01/13
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>> they took a baby step with this debt ceiling thing saying you pass a budget. the next step is to say, okay, as part of a program of fiscal responsibility, we have to do something about this going forward. the reality is, republicans do not have much leverage. they lack the courage of their own convictions. they are scared silly because they think they will lose elections that way. dagen: what is the game plan down the road, though? will they just wait until we are on the verge of these programs starting to run out of at least some money and then they will raise taxes on wealthier people to fund them? there has to be a long game plan >> you are talking about these politicians acting like adults and thinking long-term. i do not think there is a long-term game plan when it comes to dealing with entitlements. connell: paul krugman wrote a big piece about that. we do not have to do with it now, just put it off. >> just think about the debate that we are having right now. democrats are saying we need to raise taxes for government spending. it is medicare, social sec
>> they took a baby step with this debt ceiling thing saying you pass a budget. the next step is to say, okay, as part of a program of fiscal responsibility, we have to do something about this going forward. the reality is, republicans do not have much leverage. they lack the courage of their own convictions. they are scared silly because they think they will lose elections that way. dagen: what is the game plan down the road, though? will they just wait until we are on the verge of these...
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Jan 22, 2013
01/13
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. >> reporter: republicans are offering a compromise on the debt ceiling, house g.o.p. members are backing off a requirement to cut $1 of spending for every dollar the debt ceiling is raised. it's a move the president has demanded. >> i do believe it is a recognition of political reality. we realize the president won the election. >> reporter: republicans on capitol hill are not voting to raise the debt ceiling without getting something in return. they say in order to approve a higher debt limit, they want senate democrats to do something they have not done in four years, pass a budget. >> for us to have a debate about spending and debt, we've got to have the focus be on a budget and what we're going to do to achieve a balanced budget over time. >> reporter: senate democrats view a budget vote as an opportunity to raise more money through taxes. >> it's going to be a great opportunity. in our budget that we will pass we'll have tax reform, which many colleagues like but it will include revenues. >> reporter: the house is expected to approve the debt limit increase tomor
. >> reporter: republicans are offering a compromise on the debt ceiling, house g.o.p. members are backing off a requirement to cut $1 of spending for every dollar the debt ceiling is raised. it's a move the president has demanded. >> i do believe it is a recognition of political reality. we realize the president won the election. >> reporter: republicans on capitol hill are not voting to raise the debt ceiling without getting something in return. they say in order to approve...
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Jan 24, 2013
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ceiling suspension until may by a vote of 285-144 yesterday. i guess a hard day's work deserves a week and a half of recess. >> amen. >> meantime, the senate is in session today and harry reid and mitch mcconnell apparently agreed on a filibuster reform deal. a senator can no longer filibuster the so-called motion to proceed and killed a chance for up or down vote on legislation and be easier to appoint members to negotiate with the house once a bill is passed and until now even after a fill buster is beaten, there is still a 30-hour wait before a nominee confirmed. this time would now be cut to just two hours. the leaders also agreed any senator wishing to filibuster must come to the senate floor to do so. now, the steps might seem to represent progress but not nearly what many progressives wishing for. the headline in "the huffington post" says it all calling it failibuster. >> whoa. >> 60-vote senate is still intact. today is ira shap ro and also author of "the last great senate." and he joins us now. ira, i want to get to the filibuster dea
ceiling suspension until may by a vote of 285-144 yesterday. i guess a hard day's work deserves a week and a half of recess. >> amen. >> meantime, the senate is in session today and harry reid and mitch mcconnell apparently agreed on a filibuster reform deal. a senator can no longer filibuster the so-called motion to proceed and killed a chance for up or down vote on legislation and be easier to appoint members to negotiate with the house once a bill is passed and until now even...
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Jan 24, 2013
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the house averted the debt ceiling fight. at least some republicans. 33 members of the house gop still broke rank. by averting, we, of course, mean punting the ticking time bomb three months down the road. >> another 90 days away so we can continue to royle this congress, this country, our people, and our economy. >> we should not even be having a debate. it should be no doubt that the full faith and credit of the united states will be honored, and that is what our constitution says. >> the gimmick nature of this whole thing i won't elaborate on, has been done before. >> either way, the passage of this bill has allowed lawmakers to skip from brinkmanship to probably more brinkmanship. looming just over the horizon is a budget battle that could shut down the government and automatic steep spending cuts that could cost thousands of jobs. welcome to the new normal in washington. joining us now from davos, switzerland, is cnbc's squawk box co-host "new york times" columnist and author of too big to fail, andrew ross sorkin. it is
the house averted the debt ceiling fight. at least some republicans. 33 members of the house gop still broke rank. by averting, we, of course, mean punting the ticking time bomb three months down the road. >> another 90 days away so we can continue to royle this congress, this country, our people, and our economy. >> we should not even be having a debate. it should be no doubt that the full faith and credit of the united states will be honored, and that is what our constitution...
WHUT (Howard University Television)
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Jan 24, 2013
01/13
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WHUT
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[applause] i'm trying to imagine -- we talked earlier about the fiscal cliff and debt ceiling. it is clear there is legislative gridlock in this town. what happens in the months to come with this kind of gridlock -- we already see the battle lines being drawn about what is to happen when these entitlements did on the table with in march. what happens to the poor as you see it in the coming months? >> let me first say, thank you so much for allow me to be part of this conversation. i am happy that you have been carrying on this kind of conversation over the last few years. let me try and see if i can put something in context for you -- i think that is something we never really talk about. a lot of this fiscal cliff stuff is really smoke and mirrors -- when you sit back and realize the largest portion of the debt of this country is really three things -- one is two wars we never paid for, what is a medicare part that we never paid for, and the other part is the bush tax cuts. those of the largest portions of the debt of this nation. what they're trying to do now by cutting what y
[applause] i'm trying to imagine -- we talked earlier about the fiscal cliff and debt ceiling. it is clear there is legislative gridlock in this town. what happens in the months to come with this kind of gridlock -- we already see the battle lines being drawn about what is to happen when these entitlements did on the table with in march. what happens to the poor as you see it in the coming months? >> let me first say, thank you so much for allow me to be part of this conversation. i am...
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Jan 22, 2013
01/13
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. >> reporter: republicans are offering a compromise on the debt ceiling, house g.o.p. members are backing off a requirement to cut $1 of spending for every dollar the debt ceiling is raised, a move the president has demanded. >> it's believe it's a recognition of political reality. we realize the president won the election. >> republicans on capitol hill are not voting to raise the debt ceiling without getting something in return. they say in order to approve a higher debt limit, they want senate democrats to do something they have not done in four years, pass a budget. >> for us to have a debate about spending and debt we've got to have the focus be on a budget and what we're going to do to achieve a balanced budget over time. >> senate democrats view a vote as an opportunity to raise more money through taxes. >> it's going to be a great opportunity for us, because in our budget that we will pass, we will have tax reform which many of my republicans like but it will include revenue. >> the increase will likely happen tomorrow. >>> one other provision of the debt limit
. >> reporter: republicans are offering a compromise on the debt ceiling, house g.o.p. members are backing off a requirement to cut $1 of spending for every dollar the debt ceiling is raised, a move the president has demanded. >> it's believe it's a recognition of political reality. we realize the president won the election. >> republicans on capitol hill are not voting to raise the debt ceiling without getting something in return. they say in order to approve a higher debt...
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Jan 23, 2013
01/13
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KPIX
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it could be a key to the house vote today on the debt ceiling battle. nancy cortes is on capitol hill. good morning. >> reporter: good morning. that vote is set to take place in the next couple hours. this is the week we thought the big fight over raising the debt ceiling was going to get under way. that's something senate democrats haven't managed to do since 2009. no budget, no pay. that is the message from the house republican leader. >> americans believe if you don't do your job, you shouldn't get paid. that's the basis for no budget, no pay. >> reporter: the bill they will be voting on today calls for a temporary suspension of the debt ceiling until mid-may, but it requires the house and senate to craft budgets by april while members' salaries will be held in escrow. paul ryan explains the strategy. >> in the house, democrats and republicans have been leading by offering budgets and offering alternatives. the senate hasn't even done that. all we're saying is let's get the senate in here to do that to see how we're going to figure out the problem no
it could be a key to the house vote today on the debt ceiling battle. nancy cortes is on capitol hill. good morning. >> reporter: good morning. that vote is set to take place in the next couple hours. this is the week we thought the big fight over raising the debt ceiling was going to get under way. that's something senate democrats haven't managed to do since 2009. no budget, no pay. that is the message from the house republican leader. >> americans believe if you don't do your...
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Jan 24, 2013
01/13
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and we'll up the debt ceiling? >> i will. i also think that it's important that we get this issue behind us. we get the sequestration stopped. we get this whole fiscal cliff, cr addressed, the continuing resolution keeping the government in business because it just sends a wrong message to businessmen and women, small and large in our country. we need to have a path to a balanced budget and we need to cut spending and we need to reform entitlements. that's what we need to do. >> alisyn: senator, let's talk about what happened on capitol hill yesterday with secretary clinton, came in front of you to talk about benghazi. what did you learn yesterday? >> not much. not much. she was feisty, according to the main stream media. she obviously has an adoring media. she really didn't answer any questions. her response to senator johnson about whether there was a spontaneous demonstration or not, saying it didn't matter. it didn't matter how these people died? that was stunning. that was really stunning. of course it matters. it matter
and we'll up the debt ceiling? >> i will. i also think that it's important that we get this issue behind us. we get the sequestration stopped. we get this whole fiscal cliff, cr addressed, the continuing resolution keeping the government in business because it just sends a wrong message to businessmen and women, small and large in our country. we need to have a path to a balanced budget and we need to cut spending and we need to reform entitlements. that's what we need to do. >>...
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Jan 23, 2013
01/13
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CURRENT
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punting the debt ceiling. a vote is going to go through today. >> punting it down three more months. >> hal: a three-month wait to deal with -- >> because why get done today what you can put off? >> hal: because people are still glowing in the aftermath of the inauguration. people are still recognizing the president -- their message that the president isn't interested in deficits and handling it because he did mention it in his inauguration. he did mention doing in a balanced approach and the american people agree with him on that part. so if they have to act on it in the next week, people are still that much engaged. they're hoping in three months the american public will disengage enough for them to create another false narrative. >> so when we talk about rating the debt ceiling. we've already racked up the bills and we have to pay them. that's an obvious -- that's the fact. >> hal: right. >> they like to combine the two right and make it about future spending and paying off the bills. the president says it
punting the debt ceiling. a vote is going to go through today. >> punting it down three more months. >> hal: a three-month wait to deal with -- >> because why get done today what you can put off? >> hal: because people are still glowing in the aftermath of the inauguration. people are still recognizing the president -- their message that the president isn't interested in deficits and handling it because he did mention it in his inauguration. he did mention doing in a...
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Jan 22, 2013
01/13
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FOXNEWSW
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they will hit the debt ceiling mid-february. this pushes this whole thing back a couple months. doug mckelway is live in washington with the story. doug, surprise, surprise, right? >> reporter: surprise, surprise, martha. this is the no budget, no pay bill. it would suspend the debt limit until may 19th at which time the debt limit would automatically increased beyond the present $16.4 trillion to accommodate whatever the u.s. borrowed at that time. it makes the extra borrowing contingent upon this. if either chamber of congress fails to pass a budget by april 15th. all income earned by members of that respective chamber would be settle aside. no budget, no pay. republicans ha been frustrated by the senate's failure to pass a budget the last four years. in his inaugural address yesterday some say the president set a not so conciliatory tone about the debt ceiling and other impasses with the gop-controlled house. >> we can not mistake absolutism for principle or substitute speckel for politics, or treat name-calling as reasoned debate. >> reporter: couple blocks away at a breakfa
they will hit the debt ceiling mid-february. this pushes this whole thing back a couple months. doug mckelway is live in washington with the story. doug, surprise, surprise, right? >> reporter: surprise, surprise, martha. this is the no budget, no pay bill. it would suspend the debt limit until may 19th at which time the debt limit would automatically increased beyond the present $16.4 trillion to accommodate whatever the u.s. borrowed at that time. it makes the extra borrowing contingent...
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Jan 28, 2013
01/13
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CNBC
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so the resolution of the debt ceiling crisis in particular, i think was a big moment for the market. we are targeting 2.25% on the ten-year over the next couple of months. as you mentioned, economic momentum is getting a little better. really, the underlying trend of things is not so bad for the economy. and if you do get, as your previous guest noted, another move up of 3%, 4%, 5% in equities, then that could easily be the impetus to get treasury yields even higher than they are today. >> the big question, and we should talk about it, is the losses that people could suffer moving forward. but for the moment, if we take a historical perspective, we're still at very low interest rates, aren't we. 4%, 5% would be a normal rate. i assume this is not necessarily at the moment at this level a problem in slowing the economy. >> no, we're not panicked. in fact, we think that treasury yields will probably find a plateau somewhere around that 2.25% and end the year somewhere about where they are today. treasury yields, at least at the moment, are heavily influenced by supply and demand factor
so the resolution of the debt ceiling crisis in particular, i think was a big moment for the market. we are targeting 2.25% on the ten-year over the next couple of months. as you mentioned, economic momentum is getting a little better. really, the underlying trend of things is not so bad for the economy. and if you do get, as your previous guest noted, another move up of 3%, 4%, 5% in equities, then that could easily be the impetus to get treasury yields even higher than they are today....
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Jan 22, 2013
01/13
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joining us now on set to talk equity market structure, and the debt ceiling. jeff solomon cowen & company ceo. let's start with, i'm intrigued now. equity market structure. what are you going to talk about now? how do you want to talk about that? >> well, i think, i mean, we've been talking for a little over a couple of years about how crazy the equity market structure has gotten in terms of fast speeding, electronic trading, high frequency trading and how basically we've gotten away from fundamental investing in the equity markets. and so, there's a movement afoot, later on, actually beginning of next month, to have a roundtable discussion at the s.e.c. about a widening tick increments, adding bid offer spreads for small cap stocks and a way to try to drive liquidity back into the small cap market. >> my question is, if we did see a return of the individual investor and just more interest in the stock market, i argue was very low, still, even though we're getting close to highs on the -- >> i agree. >> i still think it's low. wouldn't that solve a lot of the
joining us now on set to talk equity market structure, and the debt ceiling. jeff solomon cowen & company ceo. let's start with, i'm intrigued now. equity market structure. what are you going to talk about now? how do you want to talk about that? >> well, i think, i mean, we've been talking for a little over a couple of years about how crazy the equity market structure has gotten in terms of fast speeding, electronic trading, high frequency trading and how basically we've gotten away...
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Jan 25, 2013
01/13
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is that this idea that there is a deficit crisis and we're going to be greece if we don't breach the debt ceiling and impose budgets that cut the government 40% in ten years, the idea behind those crisis mongers is that we have to slash the heck out of social insurance, out of programs that provide educational opportunities for poor people, out of things that push back against economic inequality. we can't afford it. we must cut them. the crisis dictates it. if there is no crisis and, as krugman and i argue, there is no crisis, if there is no crisis, they're just out there in nowhere land by themselves, by the way, without the majority of the electorate behind them. >> very briefly, jared, if you can, eric cantor says taxes are done, no taxes, so i guess another stalemate to come on that? >> i see -- it's hard to see how the budget that's going to come out of the senate, and i think patty murray is going to do a very good job on that, is going to reconcile with the kind of budgets we're looking at. >> jared bernstein who absolutely deserves the nobel peace prize, thank you, sir, thank you
is that this idea that there is a deficit crisis and we're going to be greece if we don't breach the debt ceiling and impose budgets that cut the government 40% in ten years, the idea behind those crisis mongers is that we have to slash the heck out of social insurance, out of programs that provide educational opportunities for poor people, out of things that push back against economic inequality. we can't afford it. we must cut them. the crisis dictates it. if there is no crisis and, as...
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Jan 24, 2013
01/13
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less carbon intensity and more jobs seems to go well politically. >> debt ceiling and the issues that we're confronting ahead of us? we just got through our last fiscal cliff. >> one dark cloud that sits above the u.s. economy. and it's easy within our -- >> is it a real cloud, though? some of the comments you hear from ceos now said we're just going to have to get used to all of these cliffs, and we're going to have to just keep going and make just forget about what's going on in washington. is that -- >> that's the reality case which i live in. i live in that world, reality. and the reality is we're moving on anyway. but, of course, uncertainty in the consumer is what drives us all. and the consumer needs to see some degree of political certainty, and let's hope that this is not a kick the can down the road, but a real deal will emerge. we have to solve this and tax reform, the two big policy items above and beyond energy. >> you think that's going to happen? >> let me put it this way, i'm bullish but there's a better case of that happening in the second term than in the first term.
less carbon intensity and more jobs seems to go well politically. >> debt ceiling and the issues that we're confronting ahead of us? we just got through our last fiscal cliff. >> one dark cloud that sits above the u.s. economy. and it's easy within our -- >> is it a real cloud, though? some of the comments you hear from ceos now said we're just going to have to get used to all of these cliffs, and we're going to have to just keep going and make just forget about what's going...
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Jan 22, 2013
01/13
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. >> reporter: bottom line republicans recognize this raising the debt ceiling issue isn't a very good one for them. working on deficit and spending budget is better for them. >> reporter: what do democrats say about passing a budget today. >> reporter: chuck schumer said the senate would pass a budget this year. the battle will be over spending cuts and what is included in that very budget. yesterday with the top congress alleaders at his inaugural luncheon president obama called for working together. >> i recognize that democracy is not always easy, and i recognize there are profound differences in this room, but i just want to say thank you for your service, and i want to thank your families for their service, because regardless of our political persuasions and perspectives, i know that all of us serve because we believe that we can make america for future generations. >> reporter: first challenge will be that debt ceiling vote tomorrow the first of many fiscal issues to be tackled in this new term. >> reporter: let the games begin. mike emanuel, thank you very much. what is the lik
. >> reporter: bottom line republicans recognize this raising the debt ceiling issue isn't a very good one for them. working on deficit and spending budget is better for them. >> reporter: what do democrats say about passing a budget today. >> reporter: chuck schumer said the senate would pass a budget this year. the battle will be over spending cuts and what is included in that very budget. yesterday with the top congress alleaders at his inaugural luncheon president obama...
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Jan 22, 2013
01/13
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what she has to say about the debt ceiling standoff. >>> what a week it is going to be. "squawk on the street" is back in a minute. twins. i didn't see them coming. i have obligations. cute obligations, but obligations. i need to rethink the core of my portfolio. what i really need is sleep. introducing the ishares core, building blocks for the heart of your portfolio. find out why 9 out of 10 large professional investors choose ishares for their etfs. ishares by blackrock. call 1-800-ishares for a prospectus which includes investment objectives, risks, charges and expenses. read and consider it carefully before investing. risk includes possible loss of principal. >>> shares of research in motion are up sharply this morning, after the ceo said the ongoing review could potentially leetd to the sale of its handset business. plaque berry upgrades alone could in fact drive themes. the question in terms of if they do license their software platform, jim, who would they license to, since knockia is with microsoft, and samsung, motorola with android, so who is left to license w
what she has to say about the debt ceiling standoff. >>> what a week it is going to be. "squawk on the street" is back in a minute. twins. i didn't see them coming. i have obligations. cute obligations, but obligations. i need to rethink the core of my portfolio. what i really need is sleep. introducing the ishares core, building blocks for the heart of your portfolio. find out why 9 out of 10 large professional investors choose ishares for their etfs. ishares by blackrock....
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Jan 24, 2013
01/13
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WUSA
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ceiling, which is why 2013 is a make or break. >> reporter: if those decisions are postponed again? >> well, it will be pushing the can down the road yet again, which was a reproach that we made against the europeans, and i don't think that the u.s. should fall in that trap. >> reporter: lagarde said governments and legislators can't be allowed to let up or slip back, that we can't go back to business as usual. >> pelley: anthony, thank you very much. democratic senator dianne feinstein of california introduced legislation today to reinstate the federal ban on assault weapons, but she acknowledged that supporters face an uphill battle. nancy cordes is at the top of that hill tonight in washington. nancy. >> reporter: scott, the bill that she and other democrats spruced today is even tougher than the assault weapons ban that congress let lapse back in 2004. this bill would ban the sale of 157 different military-style firearms. flanked by police officers, doctors, and mayors, senator dianne feinstein of california made her case today for banning the types of weapons used to carry out
ceiling, which is why 2013 is a make or break. >> reporter: if those decisions are postponed again? >> well, it will be pushing the can down the road yet again, which was a reproach that we made against the europeans, and i don't think that the u.s. should fall in that trap. >> reporter: lagarde said governments and legislators can't be allowed to let up or slip back, that we can't go back to business as usual. >> pelley: anthony, thank you very much. democratic senator...
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Jan 25, 2013
01/13
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three or four months with the debt ceiling. so the sequester is the next thing that republicans -- >> yes, sequester and the budget. and, i don't know what richard things, but my view was -- >> hasn't been a budget in four years -- >> there has been a budget. not a stand-alone budget. they just keep continuing the budget that already exists. >> is that a problem? >> it can be a problem. >> how do you -- >> i think it was -- i blame partisanship in washington. i don't think that's any one person's fault by any means. i think not making the fight about the debt ceiling, which has the unfortunate downside that if you mess it up, the u.s. government defaults, and it's a financial catastrophe, this was a sign of maturity. i think on the republicans' part that let's make it about the budget. so the budget is now going to come to so-called continuing resolution. they're going to have to have a fight about a government shutdown. this is what they should be arguing about. what does the government spend money on? what should it spend mon
three or four months with the debt ceiling. so the sequester is the next thing that republicans -- >> yes, sequester and the budget. and, i don't know what richard things, but my view was -- >> hasn't been a budget in four years -- >> there has been a budget. not a stand-alone budget. they just keep continuing the budget that already exists. >> is that a problem? >> it can be a problem. >> how do you -- >> i think it was -- i blame partisanship in...
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Jan 24, 2013
01/13
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. >> the debt ceiling, they could have the focus on entitlement reform. hopefully that is what we will do over the next 90 days. hard-working officials in the house and reform. stuart: come back and contradict the president any time you like. next a man who does business with microsoft sells software but is still critical of the company's the executive as am i. why can't microsoft be the one to challenge apple? what will it take? the man from microsoft is next. [ wind howls ] [ dog barks ] ♪ ♪ [ male announcer ] something powerful is coming. ♪ see it on february 3rd. ♪ stuart: it looks like apple's pain is a gain for its competitors. tell me how. nicole: let's take a look at the competitors. research in motion, new multi-year high, apple is down 10%. seeing research in motion, google, yahoo! microsoft, amazon with the arrows, some of which are hitting multi-year highs. google isn't 1.8%, same with yahoo! and microsoft. our viewers -- stuart: thank you very much for that little plug. avalanche netflix making news today. we won't forget my favorite
. >> the debt ceiling, they could have the focus on entitlement reform. hopefully that is what we will do over the next 90 days. hard-working officials in the house and reform. stuart: come back and contradict the president any time you like. next a man who does business with microsoft sells software but is still critical of the company's the executive as am i. why can't microsoft be the one to challenge apple? what will it take? the man from microsoft is next. [ wind howls ] [ dog barks...
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Jan 27, 2013
01/13
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. >> reporter: there will be several skirmishes where the republicans can try out their focus, debt ceiling, and automatic spending cuts set to kick in august 1. but don't count on up compromise. >> we think the sequesters will happen. >> reporter: congressman paul ryan says he's not encouraged by president obama's words so far. >> i decided to not comment between the election and inauguration because i wanted to see what kind of president we're looking at, what kind of path he was putting his administration on. and all of the statements and all the comments lead me to believe he's thinking more of a political conquest than compromise. >> reporter: democrats have been talking the hard line on revenues and gun control. yet on immigration, there seems to be at least a small agreement. >> we are trying to work our way through some very difficult issues. but we are committed to a comprehensive approach to finally in this country have an immigration law that we can live with. >> it's my hope we'll come up with a bipartisan solution. i do think enforcement has to be a big part of it. but again, i
. >> reporter: there will be several skirmishes where the republicans can try out their focus, debt ceiling, and automatic spending cuts set to kick in august 1. but don't count on up compromise. >> we think the sequesters will happen. >> reporter: congressman paul ryan says he's not encouraged by president obama's words so far. >> i decided to not comment between the election and inauguration because i wanted to see what kind of president we're looking at, what kind of...
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Jan 21, 2013
01/13
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WBAL
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ceiling. >> was it compromise or just a strategy to move a bigger fight down the road? >> i think it's an indication, a telltale sign about where the republicans are. four years ago, when the president was making that speech, republicans were meeting at night. >> exactly. >> deciding how to defeat him when he won for re-election. they lost that, big time. he had a very robust electoral victory and significant popular vote victory. now the republicans are in disarray, trying to organize their party so they have a future. and they're going to have to deal with the reality of that as well. it is a party that is so broken into a lot of parts on the gop side and there's going to have to be a lot of mending down and more outreach as well. >> couple of key areas. the president has focused on energy independence. people close to him say that could be an unlikely bipartisan legacy for president obama and health care. party line vote, divided the country. implementation will be tough. he will have to spend a lot of time on it to see results. >> immigration was an area shown to be
ceiling. >> was it compromise or just a strategy to move a bigger fight down the road? >> i think it's an indication, a telltale sign about where the republicans are. four years ago, when the president was making that speech, republicans were meeting at night. >> exactly. >> deciding how to defeat him when he won for re-election. they lost that, big time. he had a very robust electoral victory and significant popular vote victory. now the republicans are in disarray,...
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Jan 26, 2013
01/13
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we are not going to just keep raising the debt ceiling, we are going to make a down payment on debt reduction and we are going to putt -- we are going to point the country in the right direction. we are going to cut spending. [applause] there will be times when conservatives disagree on the way forward. we never marched in lockstep. we can deliver it in private. all we should ask for each other is that we give an honest account of our actions and the reasons for them. we should challenge the left, not each other. if we take a prudent course we will be in very good company. take james madison. nowadays we call him the founder and the father of the constitution. but at the constitutional convention he lost key arguments. he fought to give each state the same number of seats in the senate. he wanted to give congress more power. he wanted them to be able to be tough state laws. in both cases, he argued vigorously for his side. in both sets -- in both cases he lost. when it came to ratify the when it came time to ratify the constitution, there was no better person than james madison. he led the ch
we are not going to just keep raising the debt ceiling, we are going to make a down payment on debt reduction and we are going to putt -- we are going to point the country in the right direction. we are going to cut spending. [applause] there will be times when conservatives disagree on the way forward. we never marched in lockstep. we can deliver it in private. all we should ask for each other is that we give an honest account of our actions and the reasons for them. we should challenge the...
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Jan 24, 2013
01/13
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the debt ceiling debacle is postponed until may. the senate is close to a deal to reforming the filibuster. and we of course are waiting for the start of the nomination hearing for john kerry to be secretary of state. senator kerry is going before the committee that right now he chairs. foreign relations. and he'll be introduced by senators john mccain, by elizabeth warren and the current secretary of state, hillary clinton. it's expected to be very different than the fiery hearing yesterday in that very same room where secretary clinton made a passionate defense to republican senators aggressive questioning about what happened in benghazi. >> the fact is we had four dead americans. was it because of a protest or was it because of guys out for a walk one night who decided they would go kill some americans? what difference at this point does it make? it's our job to figure out what happened and do everything we can to prevent it from ever happening again, senator. >> i want to bring in ron, national correspondent and editorial direct
the debt ceiling debacle is postponed until may. the senate is close to a deal to reforming the filibuster. and we of course are waiting for the start of the nomination hearing for john kerry to be secretary of state. senator kerry is going before the committee that right now he chairs. foreign relations. and he'll be introduced by senators john mccain, by elizabeth warren and the current secretary of state, hillary clinton. it's expected to be very different than the fiery hearing yesterday in...